Course Content
Strategic Management: Introduction
Strategic Management: Concept, Process, Decision and Types
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Strategies :Introduction
Basic Terminology
Terminology
Schools of thought on Strategy formulation
Characteristics of Strategic Decision
Strategic Decision Making Technique : Devil’s Advocacy
Modes of Strategic Decision Making: Mintzberg
Strategic Planning
External Strategic Analysis
External Analysis, PEST, Porter’s Approach to Industry Analysis
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What is Strategic Analysis?
PEST Analysis: Francis Aguilar: 1967
General Competitive Strategies: Michael Porter: 1985
Internal Strategy Analysis
Internal Strategy Analysis – Resource-Based Approach, Value Chain Analysis
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Resource-Based Theory for Competitive Advantage: Robert M. Grant: 1991
VRIO Framework : Jay Barney: 1995
–GAP Analysis
Value Chain Analysis: Michael Porter: 1985
Strategy Formulation
Strategy Formulation: SWOT Analysis, Corporate Strategy – Growth, Stability, Retrenchment, Integration, and Diversification
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SWOT Analysis: Albert Humphrey
TOWS Matrix: Heinz Weirich
Corporate-Level Strategies :Introduction
Classification of Corporate-Level Strategies
Directional Corporate Strategies
Turnaround Strategy & Business Process Reengineering
Classification of Integration and Diversification Strategy
Corporate Diversification
Business Portfolio Analysis
Business Portfolio Analysis - BCG, GE Business Model, Ansoff’s Product Market Growth Matrix
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What is a Portfolio Matrix?
BCG Matrix
Ansoff’s Product Market Growth Matrix : Harry Igor Ansoff : 1957
Market Evolution Matrix: C.W. Hoffer and R. Schendel
Strategy Implementation
Strategy Implementation: Challenges of Change, Developing Programs, McKinsey 7s Framework
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Strategic Drift
Mintzberg’s View on Realized Strategy
Parenting Fit Matrix
🔴 Red Ocean Strategy vs 🔵 Blue Ocean Strategy
4-Box Business Model: Mark W. Johnson: 2010
Strategy Diamond: Hambrick and Fredrickson
7-S Approach : 1980 : McKinsey
Organizational Structure & Strategy Fit
Final Evaluation
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Rapid Fire : Strategic Management
Unit VI: Strategic Management

 

Resource-Based Theory for Competitive Advantage: Robert M. Grant: 1991

 

I. Introduction

  Robert Grant

  1. The Resource-Based Theory for Competitive Advantage was proposed by Robert M. Grant in 1991.
  2. Also known as Resource-based Approach / Resource based view / RBV
  3. It is a strategic framework that emphasizes the internal resources are more important for a firm than external forces for competitive advantage.

II. Resource-Based Theory Approach

Robert outlined a logical, sequential process that starts from identifying internal resources and ends with addressing gaps after strategy selection.

 

A. Identify and classify the firm’s resources in terms of strengths and weaknesses → This is the starting point, focusing on what the firm owns or controls.

B. Combine the firm’s strengths into specific capabilities → Resources are integrated to form organizational capabilities.

C. Appraise the profit potential of these capabilities in terms of their potential for sustainable competitive advantage → Capabilities are evaluated using criteria like durability, imitability, and appropriability.

D. Select the strategy that best exploits the firm’s capabilities relative to external opportunities → Strategy is chosen by aligning internal strengths with external environment.

E. Identify resource gaps and invest in upgrading weaknesses → Finally, the firm addresses deficiencies to support the chosen strategy.

 

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